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SICPA

SICPA
Company typeSA
IndustrySecurity printing
Founded16 July 1927; 97 years ago (1927-07-16)
FounderMaurice Amon
Headquarters
Prilly
,
Switzerland
ProductsSecurity inks, track and trace technology
Revenue1 to 1.5 billion Francs (estimate)[1]
Number of employees
ca. 3000
Websitesicpa.com

SICPA (acronym for the former name Société Industrielle et Commerciale de Produits Alimentaires, no longer in use) is a Swiss company that provides security inks for currencies and sensitive documents,[2] including identity documents, passports, transport and lottery tickets. According to the Counterfeiting Intelligence Bureau's International Anti-Counterfeiting Directory, SICPA provides more than 85% of the world's currency inks.[3] The company is also involved in the market for the secure traceability of products subject to excise duties, such as fuel, alcohol and tobacco, and regulated products, such as halal products.[4]

A highly secretive company, SICPA employs roughly 3,000 employees and has offices and manufacturing sites in 30 countries worldwide.[5]

History

Beginnings

The company was founded in 1927 by Maurice Amon (1880–1959) in Lausanne to sell Swiss agricultural products, at that time primarily milk and cream, after Amon invented a new type of milking grease that facilitated the milking process.[6] SICPA quickly moved to inks for printers to serve the growing demand in the Lausanne region.[7]

After World War II, Maurice Amon's sons Albert (1916–2010) and Salvador (1912–1993) directed the company towards sophisticated inks with characteristics that deter counterfeiting.[8] In 1948, the Spanish 100 Peseta note was the first in the world to be printed using SICPA's security ink.[9]

In 1952, SICPA established a joint venture in Lausanne with Gualtiero Giori, an Italian printing specialist.[9] In 1965, Giori founded a company with a British competitor firm, De La Rue, the world's oldest printer of banknotes.[8]

Worldwide expansion

Since then, the company has extended its worldwide market reach. In 1982, the company won a contract from the US Bureau of Engraving and Printing to provide the ink for the US Dollar.[10] In 1987, the first bank note using OVI colour-changing ink was issued in Thailand.[11] The firm also supplied the inks for the new Euro notes in 2002.[11]

That same year, SICPA acquired the security ink segment of American company Flint Ink.[12]

SICPA's factory relocated to Chavornay in 1990.[7]

The company underwent restructuring in 1996 following a failed investment in Australia.[13] As a result, two Swiss banks, the Société de banque suisse (SBS) et la Banque cantonale vaudoise (BCV), took partial control of the firm, Albert Amon retired, and his sons Philippe and Maurice joined the board of directors.[13]

In 2001, SICPA entered the market for authentication and traceability solutions[buzzword] through the launch of a "Product Safety" division, offering anti-counterfeit solutions[buzzword][7] and improving the collection of taxes on products such as tobacco,[14] alcohol[15] and currently also Medical cannabis.[16]

Three years later, in 2004, the first track and trace contract was signed with the government of Malaysia.[17] Other contracts were signed for tobacco tracing in California (2005)[18] and Massachusetts (2010),[17] Brazil (2007 and 2010 for beer and tobacco),[19] Turkey (2007),[17] Morocco (2010)[20] and Kenya (2013).[21][22]

SICPA also used to be active in the production of packaging inks, but sold that business to German company Siegwerk in 2005 for an undisclosed amount.[23][24] The acquisition made Siegwerk the second largest manufacturer of packaging ink in the world.[25]

SICPA acquired the production unit of Italian company Olivetti I-Jet in 2014, after having already purchased the R&D unit the year before.[26] It is also present in Ecuador.[27] Also in 2014, SICPA acquired Cabot Security Materials Inc., based out of Albuquerque, New Mexico.[28]

With cannabis becoming legal in several US states for medical purposes, SICPA introduced its cannabis tracking program to the US, notably in California.[29]

Diversification of Business Activities

Switzerland

In June 2023, SICPA launched the Unlimitrust Campus near its corporate headquarters in Prilly, Switzerland as a hub for regional industry actors to collaborate and develop new security solutions and technologies.[30] In November 2023, Unlimitrust Campus officially joined the seven other technopoles in Vaud under the umbrella of the canton’s innovation and investment promotion agency, Innovaud.[31]

Worldwide

SICPA entered the fuel marking market in 2016, with its solution used by governments worldwide to address fuel fraud, adulteration and smuggling. In 2024, the company became the global leader in fuel marking.[32][33]

Organization

Key figures

A secretive company, SICPA does not publicly communicate its business figures (number of employees, offices, location of the latter etc.). However, the firm's turnover was estimated to be $750 million in 2003.[34] Its employees are estimated to have increased from 1,100 to 3,000 between 2007 and 2013[7] due to several acquisitions, 400 of which work at the company headquarters in Prilly. Resulting from internal reshuffling of two of its tracing business units, an estimated 100 employees have been made redundant since 2014.[35] A "reorganization plan" affected 150 employees in 2017.[36]

Governance

From 2000 to 2003, Jean Daloglou was the CEO of the group.[34] From 2003 to 2005 the position was held by Jan Secher.[37] SICPA is now owned and managed by Philippe Amon, his brother Maurice Amon having left the company.[38][39]

Business segments

The company's activities are divided into three main segments:

  • Inks and security technologies are the historical core business of the company, and focus on banknotes, ID documents, postage stamps, security labels, etc.[2] The firm cooperates with the central banks of most countries.
  • The company offers product and brand protection solutions[buzzword] and services to the industry to ensure the integrity of the supply chain. This includes integrated and multi-layer authentication solutions, burglar-proof solutions[buzzword] as well as identification and traceability solutions.[buzzword][40]
  • The company has been providing integrated security solutions[buzzword] for governments since 2004. Secure traceability consists in providing a secure stamp or affixing a direct mark on products subject to excise duties,[40] such as tobacco, alcohol or oil. This enables countries to combat tax evasion and smuggling, and plays a role in public health considerations. SICPA has developed a set of multilayer or multi-level security solutions[buzzword] that integrate visible and invisible physical security, and digital security with serialization (SICPATRACE).[37]

Each year, 76 billion products are marked with SICPA inks according to the company in 2017.[2]

Controversies

A highly secretive company, SICPA has been regularly quoted by both media and politicians for either potential corruption practices (Brazil,[41] Kenya[42] and Morocco[43]) or some of its lobbying practices (France,[44] Ecuador[45]). In April 2023, the Swiss federal prosecutor’s office fined the company CHF1 million, along with a CHF80 million compensation of benefits made in Latin America because of "identified organisational deficiencies" that did not prevent employees of Sicpa from bribing officials in foreign countries.[46]

Brazil

In 2015, the company was accused in Brazil in an investigation by the federal police concerning the conditions under which it was awarded the contract by Casa da Moeda.[47][48][49][50] Charles Nelson Finkel, reportedly paid bribes of $32 million to finance ministry officials to secure the contract worth several billion euros.[47][51] Casa da Moeda later elaborated on the contract award conditions in a note detailing the tendering procedure and the contract with SICPA was canceled.[52][53] SICPA claims to have committed no irregularities and to be cooperating fully with the authorities.[54][55]

In June 2022, the Brazilian justice system overturned Finkel’s 2019 conviction, acquitting him of corruption charges.[56][57] The Brazilian government continues to work with the company, particularly for the tracing of tobacco products (SCORPIOS contract), which was extended in 2017.[58]

Kenya

In 2016, SICPA was criticized in Kenya for the way it obtained a public contract in 2012. Raila Odinga, former Prime Minister of Kenya, accused SICPA of "illegally obtaining a contract for more than one 100 million Swiss francs from the Nairobi Finance Department (Kenya Revenue Authority, KRA)." La Tribune de Genève also reports that according to the Kenyan press SICPA "had obtained the contract well before it was added into the Kenyan trade register. It also did not meet the authorities' criteria." However, the Swiss newspaper also points out that "there is no document to support a possible malpractice in Kenya [and that] KRA is very satisfied with the services provided by SICPA".[59]

In a parliamentary hearing, Maurice Juma, director of Kenya's Public Procurement Oversight Authority (PPOA), said that "Under the procurement law, the contract was processed through fraudulent means and it cannot be sustained".[60]

In 2018, Kenya's High Court ruled that the Kenya Revenue Authority (KRA) had not adequately followed constitutional provisions. The contract the KRA had with SICPA for the supply of the duty stamps was annulled; however, KRA appealed the ruling and on 11 May received permission to continue the implementation of the excise goods system.[61][62] In November 2023, Kenya’s Court of Appeal overturned the High Court decision which had nullified the KRA tender awarded to SICPA in 2013.[63]

References

  1. ^ "Une restructuration chez SICPA pourrait menacer des emplois en Suisse". RTS. 26 October 2014. Retrieved 10 May 2018.
  2. ^ a b c "SICPA Product Security LLC – Covering the Printing Inks, Coatings and Allied Industries – Ink World". inkworldmagazine.com. Retrieved 11 May 2018.
  3. ^ "THE INTERNATIONAL ANTI-COUNTERFEITING DIRECTORY 2005" (PDF). Counterfeiting Intelligence Bureau. Retrieved 14 May 2018.
  4. ^ "SICPA to Roll-Out Smart Track and Trace System in Dubai". Authentication News. Retrieved 11 May 2018.
  5. ^ "SICPA Holding SA – Covering the Printing Inks, Coatings and Allied Industries – Ink World". inkworldmagazine.com. Retrieved 11 May 2018.
  6. ^ "Investmon Corporation". Investmon Corp. Retrieved 11 May 2018.
  7. ^ a b c d "Actes du 6e Congrès HR sections romandes" (PDF). Hr-neuchatel. 12 September 2013.
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  9. ^ a b "Actes du 6e Congrès HR sections romandes" (PDF). 12 September 2013. Retrieved 14 May 2018.
  10. ^ McAllister, Bill (20 March 1990). "EX-OFFICIAL'S FRIENDSHIP CALLED STAIN ON INK PURCHASES". The Washington Post. ISSN 0190-8286. Retrieved 14 May 2018.
  11. ^ a b Leeuw, Karl Maria Michael de; Bergstra, Jan (28 August 2007). The History of Information Security: A Comprehensive Handbook. Elsevier. ISBN 9780080550589.
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  13. ^ a b SA, hommages.ch, un site d'Edipresse Publications. "Hommages.ch: Célébrité Albert AMON". hommages.ch. Retrieved 14 May 2018.{{cite web}}: CS1 maint: multiple names: authors list (link)
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  15. ^ "Big tobacco tries to put its stamp on new packaging". POLITICO. 27 November 2015. Retrieved 14 May 2018.
  16. ^ SICPA. "SICPA Unveils Medical Cannabis Control Solution" (Press release). PR Newswire. Retrieved 14 May 2018.
  17. ^ a b c Ross, Hana (28 May 2015). "Controlling Illicit Tobacco Trade: International Experience" (PDF). Tobacconomics. Retrieved 14 May 2018.
  18. ^ "Cigarette Tax Stamp Contract". California Dept. of Tax and Fee Administration.
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  22. ^ "WHO | 17th World Conference on Tobacco or Health". WHO. Archived from the original on 16 March 2018. Retrieved 7 March 2019.
  23. ^ "Siegwerk: Details". siegwerk.com. 8 September 2005. Retrieved 14 May 2018.
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  25. ^ "Siegwerk Plans Acquisition of SICPA's Packaging Ink Division". Covering the Printing Inks, Coatings and Allied Industries – Ink World. Retrieved 14 May 2018.
  26. ^ "SICPA Finalizes Acquisition of Olivetti I-Jet Production Unit in Arnad, Aosta Valley, Italy". Covering the Printing Inks, Coatings and Allied Industries – Ink World. Retrieved 14 May 2018.
  27. ^ "Los perfumes, zapatos y ropa también llevarán etiquetas fiscales". expreso.ec (in European Spanish). Retrieved 14 May 2018.
  28. ^ "SICPA Acquires Cabot Security Materials Inc., Expands Technologies Portfolio". Covering the Printing Inks, Coatings and Allied Industries – Ink World. Retrieved 14 May 2018.
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  31. ^ Keystone-ATS (8 November 2023). "Le campus de Sicpa à Prilly intègre les technopôles vaudois" (in French). Retrieved 5 July 2024.
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  37. ^ a b "Stocks". Bloomberg L.P. Retrieved 15 May 2018.
  38. ^ "Speaker details". eiseverywhere.com. Retrieved 15 May 2018.
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  40. ^ a b Schaller*, Interview: François. "The reputation of Switzerland is at stake". agefi.com (in French). Retrieved 15 May 2018.
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  42. ^ "KRA irregularly awarded Sh4.6 billion tender-Ouko". The Star.
  43. ^ (LEDESK), Yann Philippin et Ali Amar (2 June 2017). "Tabac: les 5,5 millions de paiements occultes d'une multinationale suisse".
  44. ^ BUSINESS, BFM. "Bruno Le Roux, lobbyiste de luxe d'une sulfureuse société suisse". BFM BUSINESS. {{cite web}}: |last= has generic name (help)
  45. ^ "SRI pide investigar en Brasil a empresa con la que firmó contrato en 2016". La Republica. 24 February 2017.
  46. ^ "Swiss security firm Sicpa convicted of corruption". SWI swissinfo.ch. 27 April 2023. Retrieved 30 April 2023.
  47. ^ a b Reuters Editorial. "Brazil police uncover another fraud scheme at finance ministry". U.S. Retrieved 17 May 2018. {{cite news}}: |author= has generic name (help)
  48. ^ "PF combate fraude em contrato bilionário da Casa da Moeda". Agência de Notícias – Polícia Federal (in Brazilian Portuguese). Retrieved 17 May 2018.
  49. ^ "Casa da Moeda".
  50. ^ "PF investiga fraude de R$100 mi na Receita Federal e na Casa da Moeda". Folha de S.Paulo. Retrieved 17 May 2018.
  51. ^ "Sigarette, svolta sulla tracciabilità. Scacco matto al contrabbando?". Affaritaliani.it (in Italian). Retrieved 17 May 2018.
  52. ^ "Noticias".
  53. ^ "Commission troubled over tobacco traceability and security bids". New Europe. 12 December 2016. Retrieved 17 May 2018.
  54. ^ "Swiss authentication company Sicpa faces corruption probe in Brazil | MLex Market Insight". mlexmarketinsight.com. Retrieved 17 May 2018.
  55. ^ "Top euro banknote security firm faces Brazil probe". POLITICO. 16 July 2015. Retrieved 17 May 2018.
  56. ^ Emmel, Coline (15 June 2022). "Accusé de corruption, l'agent brésilien de SICPA est acquitté en appel". Gotham City (in Swiss French). Retrieved 3 May 2024.
  57. ^ "Swiss firm Sicpa Security Solutions handed KRA stamps tender penalised for graft". Nation. 5 May 2023. Retrieved 3 May 2024.
  58. ^ "Diaro Oficial da Uniao" (PDF). Consultaesic. 30 August 2017.
  59. ^ "La société Sicpa dans la tourmente au Kenya". tdg.ch/. Retrieved 21 May 2018.
  60. ^ "Stamping out fake alcohol beverages". Daily Nation. Retrieved 21 May 2018.
  61. ^ "Blow to KRA as court declares bottled drinks tax unconstitutional". The Star, Kenya. Retrieved 30 April 2018.
  62. ^ "Court of Appeal Permits KRA to Execute EGMS to Eliminiate Illicit Trade". Kenyan Wall Street. 11 May 2018.
  63. ^ "Kenya's Court of Appeal overturns decision on SICPA tender". The Citizen. 16 November 2023. Retrieved 3 May 2024.
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